I guess the question is whether people are voting for Romeny or against Obama.
Since most re-election turn into yes/no votes for the incumbent it is likely that people are voting against Obama. Especially since his approval numbers are similar to the poll results.
The recent Rasmussen reports poll is full of a bad news for Obama:
Obama 41 Ron Paul 37
Obama 44 Giuliani 39
"But the real story in the numbers is that the president continues to earn between 41% and 49% of the vote no matter which Republican is mentioned as a potential opponent. This suggests that the race remains a referendum on the incumbent more than anything else."
http://www.rasmussenreports.com/pub...12_presidential_election/obama_41_ron_paul_37
It is still very early, but these polls should be a big wake up call to Democrats.
These polls also put in place some frame work at which to guess the outcome next year. It is very clear that if the economy stays in its current state that Obama will lose. Obama's only hope of winning is for a drastic improvement in the economy and there are no signs that such improvement is going to happen.